ABBANK becomes first UNEP FI member in Vietnam

28 February 2017

An Binh Commercial Joint Stock Bank (ABBANK), the fastest growing retail bank in Vietnam, has become the first UNEP FI member in the country.

ABBANK prides itself as one of the first banks to adopt the Bank of Vietnam’s directive to promote green credit growth and manage environmental and social risks in financial operations, contributing to the government’s National Action Plan on Green Growth in Vietnam (GGAP).

Mr Cu Anh Tuan, CEO ABBANK, stated : “Becoming a member of UNEP FI is significant to facilitate the green credit growth at ABBANK and in line with the National green growth strategy, an initiative to fulfil its corporate social responsibility by contributing to community and environment. Moreover, this creates a foundation for product development in the future in order to increase the green credit portfolio at ABBANK. This helps the bank prevent the financial risk and reputational risk during the normal course of business and strengthens the brand image in the financial market in general and in this segment in particular.”

ABBANK has integrated sustainability into its risk management and credit granting processes. It has established a team to supervise, manage, and evaluate the social environment system in which ABBANK operates and works with partners to raise awareness of the relevant environmental and social issues. The team will also build the capacities of staff on reorienting ABBANK to become a “green credit bank”.

It has an extensive network of 165 transaction offices located in 34 provinces nationwide.